NYK Trials Carbon Offsets for its Flagship PCTC

On Wednesday, NYK Line announced that it has conducted the first carbon-neutral voyage for a Japanese company, offsetting 5,000 tons of carbon dioxide emissions for the car carrier Aries Leader.

NYK says that Aries Leader is equipped with energy-saving technologies that reduce its CO2 emissions per unit by 30 percent compared with existing large PCTCs (on a per-car basis). In this initiative, the car carrier's remaining emissions have been offset by carbon credits to allow NYK to realize carbon-neutral transportation that theoretically reduces CO2 emissions to zero.

"NYK will continue its efforts to reduce CO2 emissions through initiatives such as the introduction of energy-saving technology and fuel conversion," the firm said.

Separately, NYK announced Thursday that it has won a long-term contract to deliver 3.4 million tons of coal annually for the Van Phong power plant project in Khanh Hoa Province, Vietnam. Bulker voyages for this new power plant project will begin from 2023, with deliveries extending through 2048. The coal will be transported primarily from Australia and Indonesia. 

If fully realized, the new contract award will enable the combustion of as much as 85 million tons of coal, generating emissions of up to 230 million tons of carbon dioxide over a 25-year period (based on standard conversion factors). The project will help to ensure a stable energy supply for Vietnam, where power demand is expected to expand as economic growth accelerates in the years ahead.